Archive for December, 2016

Here’s how to light up your Christmas light display safely and economically.

Christmas lights can be modest displays to show good cheer, or million-bulb light-apaloozas that draw gawkers from near and far.

Here are some tips on how to get the most from — and spend the least on — your holiday display.

1. Safety First

Emergency rooms are filled with homeowners who lose fights with their holiday lights and fall off ladders or suffer electric shocks. To avoid the holiday black and blues, never hang lights solo; instead, work with a partner who holds the ladder. Also, avoid climbing on roofs after rain or snow.

2. Unpack Carefully

Lights break and glass cuts. So unpack your lights gingerly, looking for and replacing broken bulbs along the way.

3. Extension Cords Are Your Friends

Splurge on heavy-duty extension cords that are UL-listed for outdoor use. To avoid overloading, only link five strings of lights together before plugging into an extension cord.

4. LEDs Cost Less to Light

LED Christmas lights use roughly 70% to 90% less energy and last up to 10 times longer than incandescent bulbs. You can safely connect many more LED light strings than incandescents. Downside: Some think they don’t burn as brightly as incandescent bulbs.

5. Solar Lights Cost Nothing to Run

Solar Christmas lights are roughly four times more expensive to buy than LEDs, but they cost zero to run. They’re a bright-burning, green alternative. Downside: If there’s no sun during the day, there’s no light at night. The jury’s also still out on how long they last; they’re too new on the market for results.

6. Dismantle Lights Sooner Than Later

Sun, wind, rain, and snow all take their toll on Christmas lights. To extend the life of lights, take them down immediately after the holidays. The longer you leave the up, the sooner you’ll have to replace them.

7. Plan Next Year’s Display on Dec. 26

Shop the after-Christmas sales to get the best prices on lights and blowups that you can proudly display next year. Stock up on your favorite lights so you’ll have spares when you need them (and after they’re discontinued).

8. Permanent Attachments Save Time

If you know you’ll always hang lights from eaves, install permanent light clips ($13 for 75 clips) that will save you hanging time each year. You’ll get a couple/three years out of the clips before sun eats the plastic.

9. Find Those Blueprints

Instead of guessing how many light strings you’ll need, or measuring with a tape, dig up your house blueprints or house location drawings (probably with your closing papers) and use those measurements as a guide.

10. Store Them in a Ball

It sounds counterintuitive, but the best way to store lights is to ball them up. Wrap five times in one direction, then turn the ball 90 degrees and repeat. Store your light balls in cardboard boxes, rather than in plastic bags: Cardboard absorbs residual moisture and extends the life of your lights.

What you need to know as an independent contractor or self-employed worker before you decide to buy a new home.

By: Michele Corral, Realtor®️
Entrepreneurship or even a side hustle can be exhilarating and give a sense of independence when you experience success. With the rise of the Gig Economy, many people are joining the movement to #beyourownboss. Increased flexibility and and the ability to work and earn at your own pace are excellent benefits to being an independent contractor. With all that cash flow and flexibility, you may want to move up in house or find a new place that has the perfect space for your in-home business.

Before You Find The One
What do you need to know before you start shopping for that extra room? Whether it be a perfect LuLaRoe closet, space to Study with high-speed wifi, or a perfect home Elizabeth Banks is waiting to show you on realtor.com, go into the search financially well-educated.

What will a Lender look for?
When you are looking to own a home and obtain a loan, lenders will look at the some of the following items:

The Housing Expense-to-Income-Ratio -A ratio comparing housing expenses to before-tax income that is used by lenders to qualify borrowers for a mortgage.

The housing expense measure includes mortgage principal, interest payments, property taxes, hazard insurance, mortgage insurance and association fees. A higher ratio may be accepted based on compensating factors such as a low loan-to-value ratio and/or an excellent credit history, or applying jointly with a co-borrower. It is sometimes referred to as the “front ratio”.

The Debt-to-Income Ratio – a comparison or ratio of gross income to housing and non-housing expenses It is sometimes referred to as the “back-end ratio”.

Documented Income
When you become self-employed or have 1099 income, lenders will be expecting you to document your income. If you just started in the last 4 months and have a booming business, your lender may not be as excited as you. Underwriters are looking for two years of federal tax returns. They will average the two years and are also looking for an increasing or steady income, rather than a decrease. To a lender, decreasing income will make you seem like a greater risk, and may result in your pre-approval or loan application being turned down.

Deductions
Watch out for deducting too much on your taxes. The lender can only count your net income, not your gross sales. So, although you may be able to deduct all kinds of business expenses, it would be wise to look at it from the lender’s perspective and how much money you will have leftover to pay a mortgage. The one exception to this is mileage. They are often able to give a credit for deducted mileage.

If you have questions about your specific situation, contact Brian Rulison at The Federal Savings Bank before you are ready to start packing. And, kudos to you for taking your future in your own hands. Now, get back out there and enjoy your hustle.

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